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Tuesday, 06 September 2016

East Africa: Rwanda Joins Kenya to Sign Up With Europe

Ministers for Kenya and Rwanda last week signed the East African Community (EAC)-European Union (EU) Economic Partnership Agreement (EPA) allowing for continued favourable access to the lucrative European market. This signals a start of the EAC Partner States securing the Duty Free Quota Free market access to the EU on a non-unilateral offer but on contractual basis. EPAs are trade and development agreements negotiated between the EU and African, Caribbean and Pacific (ACP) partners engaged in regional economic integration processes. Last week, Adan Mohamed , Kenya's trade secretary in statement said, "If the EPA is not signed and ratified by all EAC partner states by September 30, Kenya stands to lose its market to the EU, having significant impact on her economy" Kenya is the biggest exporter to the EU, mainly horticultural products. In 2015, EU accounted for 28% of Rwanda's total exports mainly composed of Minerals, Coffee, Tea and horticulture. Uganda is due to sign soon, however Tanzania has expressed reservations in recent weeks.

Source: allafrica.com